May 2023 URA has recently submitted proposed amendments to the Master Plan 2019 to the Minister (National Development) for approval. Land parcels in Lavender, Woodlands, Woodlands North, Whampoa, Kallang and Jalan Jurong…
Category: News-At-A-Glance
Singapore Turf Club to close Kranji racecourse by March 2027 to make way for housing, other uses
June, 2023 The government announced on June 5, 2023, that the Singapore Turf Club’s current site in Kranji will be returned to the government by March 2027 to make way for housing…
ABSD hikes a ‘pre-emptive measure’ to crimp renewed investment demand, prioritise Singaporeans: Desmond Lee
BT, APR 27, 2023 Property investment demand fell back in the last two years but is rising again and adding stress to the local housing market. As such, the government has moved to…
This slow-burn financial crisis could still bring on a recession
BT, MAY 16, 2023 The wave of US bank runs that began with Silicon Valley Bank’s digital customer deluge in March is still wiping out small and mid-sized banks, and strategists say…
Caution reigns as shophouse sales dive and prices stabilise
Sentiment in the shophouse market has turned cautious due to higher interest rates and borrowing costs. At the same time, property owners are reluctant to reduce their selling prices. However, family offices…
Private home prices pick up pace again in 2023Q1
PRICES of private homes in Singapore have accelerated in the first quarter of 2023, growing 3.2 per cent over the previous three months, according to the Urban Redevelopment Authority’s (URA) flash estimate…
Global Investor Programme minimums rise to S$10 million for business investment, S$25 million for funds
Individual seeking permanent-resident (PR) status via Singapore’s Global Investor Programme (GIP) must soon invest more: at least S$10 million in a business or S$25 million in an approved fund. For those establishing…
Developers likely to convert more retail and office buildings into private housing
Experts expect more commercial properties to be converted to residential or mixed-use developments, given the high demand for residential properties and how the residential property market has thrived during the pandemic. Since…
Revival of en bloc sales
Meyer Park was successfully sold in its third attempt at en bloc sale. The price of S$392.18 million was a notch higher than its guide price of S$390 million. The freehold sea-fronting…
US Federal Reserve Raises Key Interest Rates And Signals More Hikes Possible
THE Federal Reserve raised its target interest rate by a quarter of a percentage point on 1 February 2023, yet continued to promise “ongoing increases” in borrowing costs as part of its…